General Electric Company

RARE Charlie Munger 2017 Daily Journal AFTER Interview

“they borrowed tax exempt, build a new plant, General Electric, they're paying 3% on the debt or something.”

RARE Charlie Munger 2017 Daily Journal AFTER Interview

“General Electric was famous for always negotiating out of the wire...they'd have one final twist. And of course, it always worked.”

RARE Charlie Munger 2017 Daily Journal AFTER Interview

“Would General Electric have ever done that? That whole culture of behaving otherwise... General Electric with the and you're going to evaded 90 days instead of 30 days, which is just horrible impositi”

RARE Charlie Munger 2017 Daily Journal AFTER Interview

“How did you feel when Berkshire put money into GE in the crisis? It was fine. It was sure to work. It was a high coupon.”

Morning Session - 2024 Meeting

“a VHF in Albany, New York, competing against GE and everything. And he was operating out of a home for retired nuns.”

RWH037: Celebrating Charlie Munger w/ Mohnish Pabrai, Tom Gayner, Joel Greenblatt, & Chris Davis

“General Electric was a company that in many ways lost its way. It had huge, epic advantages. You go back 50 years ago and you look at whatever collection of businesses at whatever place in society Gen”

RWH037: Celebrating Charlie Munger w/ Mohnish Pabrai, Tom Gayner, Joel Greenblatt, & Chris Davis

“General Electric was a company that in many ways lost its way. It had huge, epic advantages...Berkshire was going to be the one that would be more successful”

RWH037: Celebrating Charlie Munger w/ Mohnish Pabrai, Tom Gayner, Joel Greenblatt, & Chris Davis

“General Electric was a company that in many ways lost its way. It had huge, epic advantages.”

Learning from Warren Buffett & Charlie Munger w/ Chris Davis

“incredibly admired businesses, GE, but that have, but where we couldn't make the math work”

Learning from Warren Buffett & Charlie Munger w/ Chris Davis

“incredibly admired businesses, GE, but that have, but where we couldn't make the math work”

Learning from Warren Buffett & Charlie Munger w/ Chris Davis

“incredibly admired businesses, GE, but that have, but where we couldn't make the math work.”

Daily Journal Annual Meeting 2023 — Munger Q&A

“Take General Electric in its heyday. Think of all the big compensation packages... they were phoning up the earnings”

Morning Session - 2022 Meeting

“between Wrigley and Goldman Sacks and General, like, at a terrible time, as it turned out”

Part 1 - 2021 Meeting

“There were then six U.S. companies on the list, and their names are familiar to you. We have General Electric, we have Exxon, IBM Corp”

Part 2 - 2021 Meeting

“GE doesn't need as many engines as we thought... they get into the power business and a variety of things.”

Part 2 - 2021 Meeting

“We went to Kiewit. We went to General Electric and say, you know, how long can we get turbines”

Daily Journal Annual Meeting 2021 — Munger Q&A

“I do think the present CEO is an extraordinarily able man and the directors made a very wise choice when they put him in charge.”

Daily Journal Annual Meeting 2021 — Munger Q&A

“Well, I never owned a share of General Electric because I didn't like the culture. And, I was not surprised when it blew up.”

Daily Journal Annual Meeting 2021 — Munger Q&A

“Well, I never owned a share of General Electric because I didn't like the culture. And, I was not surprised when it blew up.”

2020 Berkshire Hathaway Annual Meeting - Part 2 - Q&A

“It certainly affects precision cash parts. It affects general electric. It obviously affects Boeing.”

Daily Journal Annual Meeting 2020 — Munger Q&A

“he was hired by General Electric to tour around and give right-wing speeches”

Buffett: "I was wrong" on Kraft Heinz | February 25, 2019

“out of the General Electric, breaking to a lot of us that realized GE had this much money tied up in biopharma. The company General Electric is selling its biopharm a business”

Buffett: "I was wrong" on Kraft Heinz | February 25, 2019

“they owe more money than they should at present, and they should sell assets to some degree, not in a fire sale at all.”

Buffett: "I was wrong" on Kraft Heinz | February 25, 2019

“I think all America is cheering for GE, but I'm certainly one of those that is cheering.”

Buffett: "I was wrong" on Kraft Heinz | February 25, 2019

“I applaud what they, what was just announced. And I've met Larry had a terrific record, add Dan, and we are a big customer of GE.”

Buffett: "I was wrong" on Kraft Heinz | February 25, 2019

“we're talking about GE, and it's one of many companies that's looking at unfunded pension liabilities”

Daily Journal Annual Meeting 2019 — Munger Q&A

“One of them was General Electric, one was Dow, one was Dupont, and I forget the other two.”

Morning Session - 2018 Meeting

“we also did with General Electric in September, early October of 2008, we probably could have actually extracted better terms”

Buffett tells CNBC he's boosting Apple stake by $13B | May 3, 2018

“I actually admire John Connery in what he's doing. He's got a very tough job, but he's doing very logically. And I'm very familiar with G, and we've done, we do a lot of business with them”

Buffett's health care partnership is "determined" to contain costs | February 26, 2018

“Here's some news just out from GE. The company is adding three new directors”

Buffett's health care partnership is "determined" to contain costs | February 26, 2018

“at a time when GE really needed Buffett or Berkshire in terms of saying, you know, that big investment, that helped GE a lot”

Buffett's health care partnership is "determined" to contain costs | February 26, 2018

“clearly there were mistakes made, and they made mistakes in long-term care... insurance costs them a lot of money”

Buffett's health care partnership is "determined" to contain costs | February 26, 2018

“that investment was made at the very end of September, or the first days of October of 2008, and GE had been funded with extraordinary amounts of commercial paper”

Buffett's health care partnership is "determined" to contain costs | February 26, 2018

“GE was going to restate earnings for 2016 and 2017... accounting at GE has not been a model at all in recent years”

Buffett's health care partnership is "determined" to contain costs | February 26, 2018

“Do you understand GE? I don't understand the whole place.”

Buffett's health care partnership is "determined" to contain costs | February 26, 2018

“And that would apply the GE. They've got a few big businesses. I don't think they want to sell them.”

Buffett's health care partnership is "determined" to contain costs | February 26, 2018

“would you be interested in buying parts of either General Electric or Siemens, particularly if it was something that would help you in your health care initiative?”

Buffett's health care partnership is "determined" to contain costs | February 26, 2018

“I'm not referring to General Electric at all, I've seen them use much different approaches to contracts”

Buffett's health care partnership is "determined" to contain costs | February 26, 2018

“General Electric is making some moves with its board, shrinking the board and adding three new directors.”

Buffett's health care partnership is "determined" to contain costs | February 26, 2018

“GE's board will be reduced to 12 from 18... general changes being made at GE under new leadership”

Buffett's health care partnership is "determined" to contain costs | February 26, 2018

“If I were brought in to run GE, which they never would do and they'd be wise not to, but there'd be a lot to get your mind around.”

Setting the stage for CEO succession | January 10, 2018

“He wants to know if there is a point where you think General Electric shares represent value... General Electric is a big, strong company.”

Warren Buffett On The 2008 Crisis

“there's still a serious anxiety that GE might go, Goldman Sachs, Morgan Stanley”

Daily Journal Annual Meeting 2018 — Munger Q&A

“what did you recognize about General Electric before you got out?”

Daily Journal Annual Meeting 2018 — Munger Q&A

“Well, we made an investment in General Electric in the middle of a panic because it was a decent buy as a security to be passively held. It worked out for us fine. General Electric of course is a very”

Daily Journal Annual Meeting 2018 — Munger Q&A

“The minute you get into General Electric, partly decentralized, partly not. Multi-business instead of one business.”

Afternoon Session - 2017 Meeting

“Peers such as GE, Travelers, Unum, CSX, and Norfolk Southern disclosed political spending.”

Buffett buys airlines and Apple | February 27, 2017

“What about Goldman and GE? I thought you got almost 10 on those, didn't you? Yeah, we got 10 on Goldman and G.E.”

Charles Munger Interview: The Power of Partnership with Warren Buffett

“there's some great conglomerates general”

Charles Munger Interview: The Power of Partnership with Warren Buffett

“there's some great conglomerates general electric”

Sandy Gottesman Interview: A Friendship in Finance with Warren Buffett

“When Immelt became head of GE, I would”

Sandy Gottesman Interview: A Friendship in Finance with Warren Buffett

“When Immelt became head of GE, I would say the first thing Immelt did was fly to Omaha and talk to Warren.”

Morning Session - 2016 Meeting

“we expanded it by a billion dollars when we bought the GE fleet recently”

2016 Berkshire Hathaway Shareholder Letter

“the large fleet we purchased from General Electric in 2015”

Morning Session - 2015 Meeting

“They designated General Electric and Prudential. And recently, Metropolitan”

2015 Berkshire Hathaway Shareholder Letter

“The funds we supplied to Goldman Sachs and General Electric at that time produced headlines”

2015 Berkshire Hathaway Shareholder Letter

“purchase of 25,085 cars from General Electric on September 30”

Morning Session - 2014 Meeting

“it, like, Goldman Sachs and General Electric and a bunch of other companies, one of these are Tiffany's”

Afternoon Session - 2014 Meeting

“deals you did with, for example, Goldman or GE during the financial crisis”

Daily Journal Annual Meeting 2014 — Munger Q&A

“we recently passed General Electric [ticker: GE] in terms of market capitalization, and GE was founded by Thomas Edison himself in 1892”

Afternoon Session - 2013 Meeting

“General Electric needed money and we were the last stop. That is quite a situation.”

Morning Session - 2013 Meeting

“I think he's probably referring to something like the Bank of America transaction or Goldman Sachs and GE.”

Buffett on Heinz deal: "We've got a great business" | March 4, 2013

“including Coca-Cola and General Electric because they strayed too far off of their core business”

Buffett on Heinz deal: "We've got a great business" | March 4, 2013

“Jack Welch has said he thinks oil and gas is going to be one of the next big renaissance for America”

Tap Dancing to Work

“Berkshire Hathaway has overcome General Electric. It is now the sixth largest company in terms of market value”

"No question" the global economy is slowing | October 24, 2012

“I was with a guy last night at the GE dinner that is in the business of selling lots.”

"No question" the global economy is slowing | October 24, 2012

“National Middle Market Summit, which is sponsored by General Electric and Ohio State University's business school”

"No question" the global economy is slowing | October 24, 2012

“Jeff Imelt, who is the chairman and CEO of General Electric. And Jeff, thank you very much for joining us this morning. You know, Warren's been laying out for us what he sees from the economy this mor”

"No question" the global economy is slowing | October 24, 2012

“GE Capital, the other report, it's like raking in money again. And what I'm told is that the company continues to shrink it to some extent, it's making money, it's paying a dividend back to GE again”

"No question" the global economy is slowing | October 24, 2012

“our organic growth was up 8% of the quarter. That is high, you know, and 10% year-to-date on a company our size, that is pretty good. A backlog of more than $200 billion”

"No question" the global economy is slowing | October 24, 2012

“I know GE is involved in a big way in all parts of energy production and natural gas. Is the portfolio right now in energy?”

"No question" the global economy is slowing | October 24, 2012

“Warren and I are both large shareholders in GE. And we have a lot of questions. We have a lot of questions about, you know, the portfolio mix”

"No question" the global economy is slowing | October 24, 2012

“In the case of GE, we're a high-tech long-cycle business. Boeing depends on us to keep investing in our engines”

"No question" the global economy is slowing | October 24, 2012

“what I say inside GE is nervous laughter is a bad strategy, you know? That's kind of like, oh, this is really important.”

"No question" the global economy is slowing | October 24, 2012

“GE's effective tax rate would ultimately be. You know, my hunch, Andrew, is that the tax rate goes up probably, and I think we're kind of ready for that.”

Morning Session - 2012 Meeting

“Goldman Sachs, GE, and Bank of America deals, all giving Berkshire warrants that you have negotiated.”

Morning Session - 2012 Meeting

“If you look at what we did with General Electric and Goldman Sachs, for example, on those two deals in 2008”

Morning Session - 2012 Meeting

“I would value GEICO, for example, differently than I would value Gen Re and I would value even some of our minor companies”

Morning Session - 2012 Meeting

“six or seven years ago to get in the medical malpractice field when GE wanted out, and we bought that”

Morning Session - 2011 Meeting

“Our General Electric preferred is almost certain to be called in October. So we have lost, and we lost a”

Afternoon Session - 2011 Meeting

“GE, $5 billion at 10% plus warrants...It was $3 billion with GE, and the Mars deal actually involved a $2.1 million preferred stock”

Afternoon Session - 2011 Meeting

“companies like GE with their ecomagination initiative, the 10% of revenue that they generate from their ecomagination products”

2011 Berkshire Hathaway Shareholder Letter

“Swiss Re, Goldman Sachs and General Electric paid us an aggregate of $12.8 billion to redeem securities”

Wesco 2011 Annual Meeting — Notes of Charlie Munger's Remarks (The Inoculated Investor)

“The 2 main ones that remain are General Electric and Standard Oil”

2010 Berkshire Hathaway Shareholder Letter

“two others – our Goldman Sachs and General Electric preferred stocks – are likely to be gone by yearend”

Afternoon Session - 2009 Meeting

“in your General Electric and Goldman Sachs investments, do you think you've picked attractive businesses or simply attractive securities?”

Afternoon Session - 2009 Meeting

“we do lots of business with General Electric. We've bought, I don't know how many of those wind turbines from them, but GE, you know, is a very, very important American institution.”

Morning Session - 2009 Meeting

“well, you saw it at General Electric, I mean, when Jeff M.L. got appointed from among three, the other two left”

Morning Session - 2009 Meeting

“General Electric sold something earlier this year that wasn't guaranteed, and the spread between the guaranteed and the unguaranteed was huge.”

Morning Session - 2009 Meeting

“Goldman Sachs needed $5 billion, GE, he needs $3 billion. I sold a couple billion dollars worth of J&J”

2009 Berkshire Hathaway Shareholder Letter

“Steve Ballmer, of Microsoft, and Jeff Immelt, of GE, can tell you about that problem, suffering as they do from the nosebleed prices at which their stocks traded”

Wesco 2009 Annual Meeting — Notes of Charlie Munger's Remarks (Peter Boodell)

“What about the commercial real estate disruption and GE Capital? They will lose some money.”

2009 Berkshire Hathaway Shareholder Letter

“non-traded securities of Dow Chemical, General Electric, Goldman Sachs, Swiss Re and Wrigley”

Afternoon Session - 2008 Meeting

“We have 400 million of that. good until reached four assets we got with General Ree. And they were behaving honorably.”

Afternoon Session - 2008 Meeting

“I don't think there's going to be the ALBO of General Electric or Exxon”

Warren Buffett 2008 Interview (Ivey Archive)

“The first stock I bought where I invested heavily is a stock now called Geico. I got very excited about that company.”

Wesco 2008 Annual Meeting — Notes of Charlie Munger's Remarks (Peter Boodell)

“GE is good at running a conglomerate system. Berkshire has avoided the minuses.”

Warren Buffett 2008 Interview (Ivey Archive)

“we want Jack Welch running General Electric and we want Mike Tyson fighting boxing matches”

Warren Buffett remembers the 2008 financial crisis | July 11, 2018

“General Electric was in there, you know, general, every household name was there, and the question whether bank lines would be any good.”

Warren Buffett remembers the 2008 financial crisis | July 11, 2018

“there's still a serious anxiety that GE might go”

2008 Berkshire Hathaway Shareholder Letter

“we made purchases totaling $14.5 billion in fixed-income securities issued by Wrigley, Goldman Sachs and General Electric. We very much like these commitments”

Afternoon Session - 2006 Meeting

“I suggested to Jeff ML to GE that I knew they were interested in doing things with their insurance assets.”

2006 Berkshire Hathaway Shareholder Letter

“Ken Chenault of American Express, Jeff Immelt of G.E. and Dick Kovacevich of Wells Fargo come quickly to mind”

Afternoon Session - 2005 Meeting

“I think our system is, it's very different from a general electric system.”

Afternoon Session - 2005 Meeting

“I mean, GE works exceptionally well, but when I go back to some of the conglomerates”

Afternoon Session - 2005 Meeting

“IBM or General Motors or General Electric will not earn more money because their stock turns over more frequently”

Wesco 2005 Annual Meeting — Notes of Charlie Munger's Remarks (Whitney Tilson)

“In my opinion, Jack Welch was underpaid for what he did at GE.”

Wesco 2005 Annual Meeting — Notes of Charlie Munger's Remarks (Whitney Tilson)

“That said, it's a lot like GE. It is a fabulously successful insurance operator... AIG was a big operator that was a lot like GE Credit.”

Wesco 2005 Annual Meeting — Notes of Charlie Munger's Remarks (Whitney Tilson)

“That said, it's a lot like GE. It is a fabulously successful insurance operator... We never owned either because even the best and wisest people make us nervous”

Poor Charlie's Almanack

“when Jack Welch came into General Electric, he just said, "The hell with it. We're either going to be #1 or #2"”

Poor Charlie's Almanack

“General Electric is stronger for having Jack Welch there.”

Poor Charlie's Almanack

“For a big company, General Electric has fought bureaucracy with amazing skill. But that's because they have a combination of a genius and a fanatic running it.”

Poor Charlie's Almanack

“it's made a hell of a difference to General Electric that Jack Welch came in instead of the guy who took over Westinghouse”

Poor Charlie's Almanack

“Look at what General Electric has achieved-and, for that matter, what Berkshire Hathaway has achieved.”

Poor Charlie's Almanack

“one I'm copying from Jack Welch, the CEO of General Electric. He has a Ph.D. in engineering. He's a star businessman.”

Poor Charlie's Almanack

“General Electric can now buy more than $10 billion worth per year in GE's credit corporation, with one hundred percent debt financing”

Poor Charlie's Almanack

“a sixty three-year-old dentist has $1 million in GE stock in a private pension plan. The stock goes up in value to $2 million”

Poor Charlie's Almanack

“The officers of Westinghouse, perhaps influenced by envy of General Electric, wanted to expand profits from loans to outsiders.”

Poor Charlie's Almanack

“General Electric's Kidder Peabody subsidiary put a silly computer program in place that allowed a bond trader to show immense fictional profits”

Poor Charlie's Almanack

“in demanding places, like athletic teams and General Electric, you are almost sure to be discarded in due course if you keep giving excuses”

Poor Charlie's Almanack

“Jack Welch's long fight against bureaucratic ills at General Electric. Few business leaders have ever conducted wiser campaigns.”

Wesco 2004 Annual Meeting — Notes of Charlie Munger's Remarks (Whitney Tilson)

“When everyone [every CEO] becomes Jack Welsh, [who managed GE] to have income go up steadily [it's a bad thing]. [GE under Welsh was notorious for managing”

Afternoon Session - 2002 Meeting

“creative accounting and the stories of tremendous growth and success over many years. GE, Tyco, and IBM immediately come to mind”

Afternoon Session - 2001 Meeting

“Take General Electric. There's been a deliberate increase in financial leverage... stock repurchase, which General Electric has done, even when they're paying huge multiples”

Wesco 2001 Annual Meeting — Notes of Charlie Munger's Remarks (Whitney Tilson)

“I don't think GE is going to catch us in this area.”

Afternoon Session - 2000 Meeting

“In particular, you look at General Reed, a large, well-managed, publicly traded firm. And if you think about it, if you raise the intellectual honesty”

Afternoon Session - 2000 Meeting

“Well, I think you're totally right about General Rhee. We didn't improve behavior at General Rhee. They already had a behavior just like ours.”

Talk to the Philanthropy Round Table Breakfast Meeting (2000)

“Assume some 63-year-old dentist has $1 million in GE stock in a private pension plan.”

Afternoon Session - 1999 Meeting

“I looked at General Electric and Microsoft in a couple of the largest government... we did pay more than GE or Microsoft”

Afternoon Session - 1999 Meeting

“I'm nervous about the derivative operations that General Ree has. Now, right now, the balance sheet figure says that there's a $400 million net asset position, but there are also some really hairy der”

Wesco 1999 Annual Meeting — Notes of Charlie Munger's Remarks (simpleinvestor)

“Elsewhere its Progressive and potentially AIG, and GE (Colonial Penn), State Farm, and Allstate.”

Warren Buffett | Nightline Interview | 1999

“if I'm going to buy 100 shares of General Motors or General Electric or whatever it may be, I try and look at what the whole business is selling for”

Investment Practices of Leading Charitable Foundations (1998)

“General Electric can now buy more than $10 billion worth per year in GE's credit corporation, with 100% debt financing”

Investment Practices of Leading Charitable Foundations (1998)

“General Electric can now buy more than $10 billion worth per year in GE's credit corporation, with 100 percent debt financing”

Morning Session - 1997 Meeting

“transfer it into General Electric stock without a tax and a broker”

Morning Session - 1997 Meeting

“if you own General Electric and I own General Motors and we each feel too concentrated”

Morning Session - 1996 Meeting

“you can do the same thing with General Electric, magnificently run operation by Jack Welch. But I don't think the way you should look at a business like General Electric is to think about what would h”

Stanford Law: Worldly Wisdom Revisited — Business: What Lawyers Should Know (1996)

“Look at what General Electric has achieved—and, for that matter, what Berkshire Hathaway has achieved.”

Stanford Law: Worldly Wisdom Revisited — Business: What Lawyers Should Know (1996)

“Jack Welch, the CEO of General Electric. He has a Ph.D. in Engineering. He is a star businessman. He is a marvelous guy.”

Practical Thought About Practical Thought (1996)

“like early General Electric with light bulbs) we always set the first-sale price”

Morning Session - 1995 Meeting

“Coca-Cola was number two on that list, second only to General Electric”

1995 Berkshire Hathaway Shareholder Letter

“roughly the market cap of General Electric, America's most highly valued company”

Morning Session - 1994 Meeting

“the same thing Jack Welch is trying to do at General Electric, which is trying to own a number of first-class businesses... General Electric has been very successful under Jack's leadership”

USC Lecture: A Lesson on Elementary, Worldly Wisdom (1994)

“when Jack Welch came into General Electric, he just said, "To hell with it. We're either going to be #1 or #2 in every field we're in or we're going to be out."”

USC Lecture: A Lesson on Elementary, Worldly Wisdom (1994)

“General Electric has fought bureaucracy with amazing skill. But that's because they have a combination of a genius and a fanatic running it”

USC Lecture: A Lesson on Elementary, Worldly Wisdom (1994)

“it's made a hell of a difference to General Electric that Jack Welch came in”

1987 Berkshire Hathaway Shareholder Letter

“when it owns a portion of enterprises such as Ford or General Electric. The less these companies are being valued at”